Pakistan's stock market tumbles as India-Pakistan tensions simmer
Islamabad, Apr 24 (PTI): Pakistan’s stock market on Thursday witnessed a sharp dip, with the benchmark KSE-100 index closing at 115,019.81, down by 2206.33 points from the last close, amid brewing tension between India and Pakistan after the Pahalgam terror attack.
Terrorists opened fire in Pahalgam in Jammu and Kashmir on Tuesday, killing 26 people, mostly tourists, in the deadliest attack in the Valley since the Pulwama strike in 2019. The Resistance Front (TRF), a proxy of the banned Pakistan-based Lashkar-e-Taiba (LeT), claimed responsibility for the attack.
India on Wednesday downgraded diplomatic ties with Pakistan and announced a raft of measures, including suspension of the Indus Water Treaty and immediate shutting down of the Attari land-transit post in view of the cross-border links to the terror attack.
In retaliation, Pakistan also suspended bilateral trade and accords, including the Simla Agreement, and airspaces with India, among other moves.
The Pakistan Stock Exchange (PSX) took the hit, and the KSE-100 index plunged by 2,485 points early in the session, dropping to 114,740 points.
As the day progressed, the market showed signs of slight recovery, narrowing the loss to 1196 points. By midday, the current index was at 116,030.02 points.
However, it nosedived again and finally closed at 115,019.81, down by 2,206.33 points, or 1.92 per cent.
The sharp dip comes after the market touched an all-time high, crossing the 120,000 mark earlier this year. Observers said the bearish trend is expected to dominate the market until there is a sign of improvement in the current political and security situation with India.
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Five arrested in Kerala's Walayar for beating to death Jharkhand native
Palakkad (Kerala) (PTI): Five people have been arrested for allegedly beating to death a Jharkhand native on suspicion of theft near Walayar here a day ago, police said on Friday.
The arrests were formally recorded late Thursday night and all the accused have been booked for the offence of murder under the Bharatiya Nyaya Sanhita, an officer of Walayar police station said.
The deceased -- Ramnarayan Bhayar (31) -- was working as a labourer in the Walayar area.
According to police, Bhayar was attacked by a group of men on Wednesday evening, alleging that he was involved in a theft at Kizhakeattappallam near Walayar.
As per the FIR, the incident occurred before 7.40 pm, and the injured Bhayar was rushed to the Palakkad District Government Hospital, where he later succumbed to his injuries.
Police said a detailed investigation was underway to ascertain the sequence of events leading to the incident.
